Mark Zuckerberg’s wealth has reached $170.5 billion, which is the highest it has ever been. He has now become the fourth richest person according to the Bloomberg Billionaires Index, surpassing Bill Gates.
Mark Zuckerberg’s wealth increased by $28.1 billion after Meta’s quarterly results were much better than expected by Wall Street. This caused Meta’s shares to rise by about 20%.
Now, Zuckerberg is worth $170.5 billion, which is his highest wealth ever, and he surpassed Bill Gates to become the fourth richest person according to the Bloomberg Billionaires Index.
Zuckerberg’s wealth had dropped to below $35 billion in late 2022 when tech stocks fell due to inflation and interest rate increases. However, his wealth has now bounced back strongly in 2023.
The positive results also mean that Zuckerberg will receive around $700 million each year from Meta’s first-ever dividend payout to investors.
Mark Zuckerberg’s wealth surged by $28.1 billion after Meta, the company he co-founded, had much better quarterly results than expected. This caused Meta’s shares to go up by about 20%. Now, Zuckerberg is worth $170.5 billion, making him the fourth richest person according to the Bloomberg Billionaires Index, surpassing Bill Gates.
This is a big turnaround for Zuckerberg’s wealth, which had dropped to below $35 billion in late 2022 due to problems in the tech industry caused by inflation and interest rate hikes. However, his wealth has rebounded strongly in 2023.
The positive results mean that Zuckerberg will receive about $700 million each year from Meta’s first-ever dividend payout to investors. Meta announced that it would pay a quarterly cash dividend of 50 cents per share, starting in March. With Zuckerberg holding about 350 million shares, he stands to receive about $175 million in each quarterly payment before taxes.
Meta’s decision to pay a dividend indicates its confidence in its growth potential. While some tech companies avoid dividends to focus on growth, Meta’s move suggests stability and confidence in its future.
Despite challenges and changes within Meta, such as layoffs and shifts in priorities, the company’s stock nearly tripled in value in 2023. The new dividend and additional share buybacks may reassure investors about Zuckerberg’s long-term plans for artificial intelligence and the metaverse.
Zuckerberg’s total compensation for 2022 was $27.1 million, including security costs and a base salary of $1. However, Meta has not yet reported executive compensation for the previous year.